The Russian President is to visit Turkey on December 1 to discuss trade and energy. His talks with Turkish President Erdogan will focus on the Blue Stream gas pipeline from Russia, as well as the building of a $20 billion nuclear power plant.

President Putin and Turkey’s President Recep Tayyip Erdogan are
due to meet in Ankara on Monday.

“In recent decades, energy has been playing the role of a
‘locomotive’ in our trade and economic cooperation. In terms of
volume, Turkey is the second largest buyer of Russian natural gas
after Germany, which is delivered through the ‘Western corridor’
with transit through Ukraine, Moldova, Romania and Bulgaria, and
through the Blue Stream gas pipeline,” Putin said in an
interview to Anadolu Agency ahead of his visit to
Turkey.

With a population of more than 80 million Turkey is a strategic
partner for Russia as it diversifies dependence away from Europe.

In 2014, Russia will supply Turkey with 30 billion cubic meters
of gas, compared to 26.7 billion cubic meters in 2013, according to Gazprom Export. The increase is to meet
Turkey’s growing energy demand, especially in the winter months.
According to Turkey’s energy minister, this will increase the
share of Russian gas in the Turkish market to 46 percent from 43
percent.

Turkey will try and negotiate a discount for the extra 3 billion
cubic meters of cubic meters of Russian gas it agreed to in
October, Turkey's Energy Minister Taner Yıldız said after holding
meetings with Gazprom CEO Aleksey Miller in Moscow. Yıldız
requested a discount on the extra deliveries, and said he is
waiting for the Russia company's proposal.

Russia opened the Blue Stream gas pipeline in 2002, and its
capacity is set to increase from the current 16 billion cubic
meters (bcm) of gas per year to 19 bcm, Putin said.

Gazprom's Blue Stream Pipeline

Nuclear energy is also an area of energy cooperation between the
two countries. Turkey relies on Russia for almost 65 percent of
its energy imports.

In 2010, the two countries signed an agreement to construct the
Mersin-Akkuyu nuclear power station in Turkey.

“This large-scale project, worth about $20 billion, is being
implemented on schedule and will strengthen Turkey’s energy
security and create new jobs, including through the involvement
of Turkish companies,” Putin said.

The plant is going to be built by the Russia’s state-owned
Rosatom.

Trade between the two countries is $32.7 billion, making Turkey
an important foreign partner for Russia. The accumulated Russian
direct investment in Turkey reached $1.7 billion in 2013, and
Turkey invested close to $1 billion in Russia.